After previous rally from 540 levels stock went sideways 680 to 800 levels.
Stock went into consolidation from March 21 to June 21.
This consolidation phase is called as time correction. There are 2 types of correction Price correction & Time Correction.
Here it was Time correction. Time correction occurs when stocks moves up sharply in short time.
If you see move of TATA Chemicals it moved from 540 levels to 780 levels which is huge 45 % move in just 17 trading sessions after 15 Feb 21. This was very sharp move in given span of time.
Now the recent breakout was with huge gap up of 7 8 %. This shows there much more steam left. Historically stocks have given bumper returns when new trendy move starts with a gap up or there is a breakout with gap up. such gaps are not filled.
Not expecting TATA chem to fill up this gap.
Check Titan below.
Since then Titan Gave multi bagger returns within few days.
Now Currently stock is available at supports. Hence stop loss will be lower
Stock went into consolidation from March 21 to June 21.
This consolidation phase is called as time correction. There are 2 types of correction Price correction & Time Correction.
Here it was Time correction. Time correction occurs when stocks moves up sharply in short time.
If you see move of TATA Chemicals it moved from 540 levels to 780 levels which is huge 45 % move in just 17 trading sessions after 15 Feb 21. This was very sharp move in given span of time.
Now the recent breakout was with huge gap up of 7 8 %. This shows there much more steam left. Historically stocks have given bumper returns when new trendy move starts with a gap up or there is a breakout with gap up. such gaps are not filled.
Not expecting TATA chem to fill up this gap.
Check Titan below.
Since then Titan Gave multi bagger returns within few days.
Now Currently stock is available at supports. Hence stop loss will be lower
Trade closed: target reached:
Target hit 1099
Can take out capital hold rest for longterm.
🤟🏾🤟🏾🤟🏾
Can take out capital hold rest for longterm.
🤟🏾🤟🏾🤟🏾